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MEMEMEXTUSDT Index Launched By BitMEX Exchange To Trade Meme Coins – Risk On For Meme Cryptos?

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Popular crypto derivatives exchange, BitMEX has launched the MEMEMEXTUSDT Basket Index Perpetual Swap Contract, providing meme coin enthusiasts with the opportunity to bet on the overall performances of the top 10 meme coins in one go. 

In a recent announcement on X, BitMEX equated its new product to the S&P500 for meme coins though margined in USDT with up to 25x leverage. 

At the time of writing, some of the leading meme coins by market cap are Dogecoin, Shiba Inu, Pepe, dogwifhat, Bonk, Floki, Brett, Book of Meme, Mog Coin, and Dog Runes. 

MEMEMEXTUSDT Index – Gateway To Trading All The Top Meme Coins In One Go?

The meme coin niche has greatly benefitted from the growing mainstream attention on cryptocurrency. In recent months, there has been a surge of interest in meme coins, including new entrants like Pepe, Brett, Bonk, Book of Meme, and even dogwifhat. 

Crypto billionaire and Tron founder, Justin Sun, during the Token2049 event, highlights the significance of meme coins, saying “meme coins may seem conventional, but they reflect the power of community in crypto.”

As the meme coin craze continues to captivate the crypto market, numerous index instruments are emerging to provide easy diversification and protect investors against direct exposure to individual assets. 

Just recently, well-known investment manager VanEck launched a MEMECOIN index that can track the overall performances of the best 6 meme coins. This development shows that even the traditional finance sector is interested in what meme coins can offer. Apart from the meme coin king, Dogecoin, other assets covered in this index are Shiba Inu, Pepe, dogwifhat, Bonk, and Floki. 

Since its launch, VanEck’s MEMECOIN index has witnessed impressive adoption from those seeking to gauge their favorite meme coins’ relative performance so as to make informed investment decisions. 

That being said, BitMEX’s latest MEMEMEXTUSDT index is a better alternative to VanECK’s index since it covers more meme coins. Dubbed as investors’ gateway to trading high-flying meme tokens at once, this USDT-margined linear perpetual swap contract ensures that investors can speculate and make market gains without directly holding any of the tokens. 

The product has a maker of -0.015% and a take fee of 0.075%. In addition, it features a base initial margin requirement of 4.00% coupled with a base maintenance margin of 2.00%. 

Two Most Promising Meme Coins That Could Make Their Way Into The BitMEX Index 

WienerAI (WAI)

While still at its earliest stage, WienerAI stands out as one of the meme coins that could make a grand entry into the index soon. WienerAI distinguishes itself from its peers through its seamless combination of memes and AI-based fundamentals.

At the backdrop of its theme is an engaging tale of a brilliant architect in a futuristic setting, running an experiment on his loyal puppy with a lofty ambition to bridge the gap between humans and AI. However, while crafting his magic, a sausage was mistakenly added to the mix. Surprisingly, this mishap resulted in the creation of an AI that’s more powerful and quirky than it was originally intended to be. 

Staying true to this narrative, WienerAI has introduced an advanced, instant, free-to-use, and beginner-friendly AI-powered trading bot that will provide traders with everything they need to thrive in the crypto market. 

Described as investors’ ticket to better trading, WienerAI features a predictive technology that can scour the market in search of potential opportunities that investors can capitalize on. In essence, it offers real-time market insights, trading suggestions, and seamless swaps at zero fees. 

Given the relevance of its offerings, particularly amid the extreme volatility in the market, experts say WienerAI is not just a bot, but a reliable trading companion that will ultimately serve the investment goals of its users. 

Another key attraction for WienerAI is its staking model which offers lucrative returns to early buyers. According to the project’s whitepaper, the rewards will be distributed over the course of two years. At press time, buying $WAI attracts over 160% APY rewards. 

Considering its doge-inspired origin, trading bot utility, and staking attribute, famous YouTube channel with over 705k subscribers 99Bitcoins is optimistic that WienerAI will be the next doge-based meme coin to land on the linear perpetual swap contract.

Therefore, investors may be better off investing in WAI now to rake in tremendous gains by the time it opens for DEX trading. Presently, the token is available for a presale price of $0.00072 and has gathered upwards of $7 million from early movers. 

For more information, follow WienerAI on X.

Base Dawgz (DAWGZ)

Base Dawgz is another newly-launched doge-based meme coin that may probably find itself in the BitMEX index soon. Originally built on Base, Base Dawgz has an attractive lore that narrates a story of how Shiba Inu, Wojak, and other popular doge-inspired characters were strapped with BASE jumping gear, flying high on the skies after jumping off a plane.

With this exciting storyline, Base Dawgz clearly emphasizes its multichain posture, allowing meme coin enthusiasts across different communities to interact with its ecosystem without losing full control of their tokens. Apart from Base, the viral meme coin is also active on prominent chains like Ethereum, Solana, Binance Smart Chain, and Avalanche. 

This interoperability attribute, alongside its numerous community-centric strategies have resonated with a broader investing community. 

As part of its effort to enhance creativity, community inclusivity, and rewards, Base Dawgz has designed a Share-to-Earn program where active community members will be able to savor free tokens for their interaction with its social media page. By creating and sharing memes about Base Dawgz, participants will be able to accumulate points which can be exchanged for DAWGZ tokens after the presale. 

Another major selling point of Base Dawgz is its standard staking offering, making it possible for investors to maximize their tokens and earn passively. This rewarding offering is now available to all investors, regardless of the chain they are using,

The combination of all the aforementioned fundamentals, according to renowned crypto channel Cryptonews, may give Base Dawgz an explosive start as soon as it lands on cryptocurrency exchanges, making it a strong candidate for the top 10 global meme coin charts.  

Meanwhile, Base Dawgz’s presale is still live and has gathered close to $2.4 million, reflecting investors’ belief in its potential. 1 DAWGZ sells for a discounted rate of 0.00581 USD and can be bought with major cryptos like USDT, SOL, USDC, BNB, or BUSD. 

For the latest updates, follow Base Dawgz on X.

*Cryptonomist did not write the article or test the platform.

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